KLCI flat at midday, PetGas, SapuraKencana up (Update)

KUALA LUMPUR: Malaysia's blue chips eked out marginal gains at midday on Friday, supported by mild fund buying of favourites Petronas Gas and SapuraKencana Petroleum amid a mixed market.
At midday, the FBM KLCI was up just 0.54 of a point to 1,828.35. Turnover was 1.69 billion shares valued at RM1.06bil. There were 366 gainers, 325 losers and 333 counters unchanged.
Reuters reported a survey showing brisk US manufacturing activity gave Asian stock markets a lift on Friday and bolstered the dollar, though underlying concerns about China's economic growth kept investors from rushing to buy some emerging market shares.
Crude palm oil for third-month futures fell RM28 to RM2,727 after the recent rally. The ringgit strengthened to 3.3017 against the US dollar from 3.3095 the previous day.
Petronas Dagangan gained 26 sen to RM30.40 and Petronas Gas 18 sen to RM23.32 while SK Petro added four sen to RM4.38.

As for telcos, Axiata and DiGi inched up one sen to RM6.54 and RM5.11.

Adventa rose 16 sen to RM1.21 after it was removed from PN17.

Among the banks, Public Bank rose four sen to RM19.16 but CIMB and HL Bank slipped two sen to RM7.09 and RM14.16.

Pos Malaysia continued to lose ground, falling 27 sen to RM4.35 and Pos-CL 12 sen to 22 sen.

BHIC was down 13 sen to RM2.43 on weaker financial results while YTL Corp lost three sen to RM1.60.

Among the key regional markets:

Japan's Nikkei 225 rose 2.41% to 14,797.79;

Hong Kong's Hang Seng Index rose 0.41% to 22,486.15;

Shanghai's Composite Index fell 0.97% to 2,118.13;

Taiwan's Taiex rose 0.72% to 8,586.36;

South Korea's Kospi rose 1.08% to 1,951.48

Singapore's Straits Times Index rose 0.57% to 3,104.09.

US light crude oil was flat at US$102.75 and Brent slipped three cents to US$110.27.

Spot gold fell US$5.20 to US$1,317.77.